Wellesley Finance plc minibonds

[williaa68]

With the cashback included, the rate on the three year bonds is approx 6.8%. I appreciate that they arent for widows and orphans but I am thinking they may be worth a punt at that level - as far as I can see they co-invest with others in their peer to peer loans, their historic default rates are low as are their LTVs. Assume this is all property related and so if the market goes t*ts up so will they but that seems unlikely in the next three years.

Any views? Anyone know any of the management.....?

[DonkeyApple]

I had assumed this was the latest venture by Graham Wellesley and as such wouldn't touch it with a barge pole.